DUBAI : Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has signed five Memorandums of Understanding (MoU) with Japanese financial institutions worth up to an overall $51 billion, it said on Thursday. PIF inked MoUs with Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank, JBIC, and Nippon Export and Investment Insurance (NEXI), it said in a statement. The deals aim to spur "two-way capital flows through both debt and equity", among other things, it added. The move